WASHINGTON, U.S. - As it begins investing in its digital initiatives, Wal-Mart Stores have decided to drop the dash in its name and is also ditching the word ‘stores’ from its name.

As part of the move announced on Wednesday, Wal-Mart Stores will now be legally called Walmart.

In 1969, Walmart's formal legal name was incorporated as Wal-Mart, Inc.

Then, in 1970, it changed its name to Wal-Mart Stores, Inc. and kept that name in place until now.

The legal change to Walmart Inc. will be effective in February.

Now, the company is looking to emphasize its shift from a company that sells in stores to one that sells online and off.

President and CEO Doug McMillon said in a statement, "While our legal name is used in a limited number of places, we felt it was best to have a name that was consistent with the idea that you can shop us however you like as a customer.”

Propelled by its acquisition of Amazon competitor Jet.com last year, Walmart made the change in its name as it begins investing in its digital initiatives.

Through Jet, Walmart has been building a coterie of online brands that now includes Modcloth and Bonobos.

Recently, the retailer also struck a deal with Lord & Taylor, giving the department store dedicated space on Walmart.com.

McMillon added in the company’s blog post that employees who incorporate the Walmart "squiggly" into their cheers, may continue to do so.

He added, “It's important to have some fun at work, so for our associates in countries where your cheer calls for the squiggly, keep doing it!"